There are several versions of the Mouteki EA posted, which version are you referring to? I believe the latest version runs between a certain time.... EAs do not always work, when trading with EAs, you must use discretion along with other filters...

There are several versions of the Mouteki EA posted, which version are you referring to? I believe the latest version runs between a certain time.... EAs do not always work, when trading with EAs, you must use discretion along with other filters...

Yes I think that's the whole point of the EA concept - that it is mechanical - meaning that little gizmo buys and sells without any funny mentals attached. Discretion is a valid concept for experienced profitable traders. The reality is that new traders learn about discretionary trading and figure that it should work for them because they are destined to be the next Da Vinci, Michelangelo, or Rembrandt of the forex markets. Unfortunately discretion requires experience which includes a number of memories, correctly categorized for easy retrieval by the brain, and the correct responses to those memories learned as well, so that when the situation arrives, the brain is able to match up that memory and action with the current situation and provide an advantage that betters the trader's chance to make a profit. I haven't met a newbie yet who comes correctly pre-wired for trading.

Most new traders are so pathetically bad at picking trade direction and entry points that it might be worth trying the following experiment. The new trader should turn on an EA and watch it trade. When the new trader feels very strongly that the decision the EA made is correct, the new trader should immediately manually close out the position. When the new trader feels extremely strongly that the decision made by the EA is completely wrong, the new trader should manually double the position size. Try that for a few days and you'll start experiencing "head games" like crazy but might make a bit of cashola in the mean time.

You can trade EAs mechanically or you you can just have it alert you without making a trade. I agree that if you are only testing then having it mechanically trade for you is fine, but would you do that on a live account? For a live account, I would want to make sure I am on the right side of the trend or analyze it further not unless the EA has proven itself to be very good in having more wins than losers.

There are four versions of the Mouteki EA posted in the EA Alerts forum, and each one has its pluses and minuses. I have only tested with two of them, and they are reliabley good. One thing I should point out, if you follow the Mouteki rules for entering a trade, this EA may not enter a trade, I am pretty sure the rules in the EA may be different due to filtering. But then, no system is perfect so its why I say use discretion....

I also have the same problem. The Mouteki EA I am testing on a demo is the "Mouteki EA 0.4". I am trying to do a forward testing with cable. Last night (Oct 22) there was a clear breakout but the EA did not enter anything. All my settings are default. Do I need to change any setting?

I also have the same problem. The Mouteki EA I am testing on a demo is the "Mouteki EA 0.4". I am trying to do a forward testing with cable. Last night (Oct 22) there was a clear breakout but the EA did not enter anything. All my settings are default. Do I need to change any setting?

Any advise would be appreciated.

Thanks

Ignored

The EA has filtering built into it. If you want to trade the alerts as it is, you can only trade it manually. You may want to look at the first EA posted in the link above since I believe it was nothing fancy, do not recall....